Financial News

  • 9 February 2014, 4:12

ao.com Plans London Stock Market Float

Onine retailer AO has announced a decision to float on the London Stock Exchange in March.

The company hopes to raise 60m through the initial public offering (IPO).

AO has appointed the chairman of online fashion retail star Asos, Brian McBride, as senior independent non-executive director.

Mr McBride was formerly the managing director of Amazon UK.

AO has also recently launched a major advertising campaign to increase its profile to consumers and investors.

It was previously known as Appliances Online, and specialises in white goods such as fridges, washers, dryers and kitchen appliances.

The firm intends to expand into electronic goods and hopes to open a similar business in Germany.

Co-founder and CEO John Roberts said: "Ultimately, it is our ambition to be a leading European online electrical retailer."

The IPO is expected to see the company valued at around 1.2bn.

A number of flotations in the UK are expected this year, including discount chain Poundland, Fat Face and Pets At Home.

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